It should be noted that the above speech was given before the fracking revolution really got started. This revolution was arguably the key reason why carbon emissions have gone down in the USA over the last half decade. Fracking has made natural gas abundant and cheap. Natural gas generates much less carbon than coal. Natural gas plants are better, as far as carbon goes, for the environment.

But what happens if the government comes to rely on carbon as a revenue source? Do you think they’ll want that revenue source to dry up? I don’t think so.

And consider also what companies will be best able to deal with a carbon tax? Hint – it’s giant companies like Exxon. Smaller energy companies will be hampered.

(From The National Review)

At ExxonMobil, we share the view that the risks of climate change are serious and warrant thoughtful action. Addressing these risks requires broad-based, practical solutions around the world. Importantly, as a result of the Paris agreement, both developed and developing countries are now working together to mitigate greenhouse gas emissions, while recognizing differing national responsibilities, capacities and circumstances. In our industry, the best hope for the future is to enable and encourage long-term investments in both proven and new technologies, while supporting effective policies.

Which is what we are doing. We have long supported a carbon tax as the best policy of those being considered.